In the Open House discussion with EXIM Club, Baroda held on 10th December, 1999, it was requested that in respect of the Bank Guarantees taken by Licensing Authorities, wherever the export obligation has been completed and cases are redeemed, Bank Guarantee should be returned to the party because in the absence of these Bank Guarantees the banking authorities are not releasing Bank Guarantees. At present Licensing authorities are issuing the redemption letter and copy of this is endorsed to the concerned bank for release of BG.
The offer document shall state the security / asset cover to be maintained. The basis for computation of the security / asset cover, the valuation methods and periodicity of such valuation shall also be disclosed.
Trade Notice No. 33/2000 Attention of the Trade is invited to this Commissioner ate Trade notice No. 13/2000 dated 31.3.2000 and trade notice no. 20/2000 dated 26.4.2000. Consequent upon the amendment in Central Excise Rules with effect from 1.4.2000 allowing the Central Excise assessees to pay duty on fortnightly basis instead of payments consignment – wise, it became essential to review the format of Returns being submitted by assessees. Notification No. 48/2000-CX(NT) dated 18th August, 2000 (copy enclosed) has since been issued whereby new RT-12 Form has been prescribed,
Circular No. 546/42/2000-CX I am directed to refer to Board”s Circular No. 62/90-CX.3, dated the 7th December, 1990 (vide F.No. 112/9/90-CX.3) on the subject cited above. In the circular, it was interalia clarified on the basis of opinion given by the Chief Chemist that the ultramarine blue in bulk form is appropriately classifiable under chapter heading 32.06; and the same when put up in small packings,
Circular No. 545/41/2000-CX I am directed to refer to Board”s Circul;ar No. 28/90.CX.4 dated 20.7.90 based recommendation of Tariff Conference, issued from F.No. 139/23/90-CX.4 dated 20.7.90 regarding classification of Steel Tubular Poles and to say that the matter has been re-examined on dismissal of Department”s appeal by the Supreme Court filed against CEGAT decision in the case M/s Quality Steel Products Pvt. Ltd. [1993 (65) ELT 513 (T). The Hon”ble Supreme Court in the case of Indian Metals & Ferro Alloys Ltd
Circular No. 544/40/2000-CX Please refer to the instructions issued by the Board from time to time on scrutiny of CEGAT’s/High Court”s Orders by Commissioners and forwarding of proposals to the Board for filing of civil appeals/SLPs. It has been observed that one long standing problem faced by the Department is with regard to furnishing of up to date information on the status of connected matters relied upon in the impugned order/Deptt”s appeal, to the Court at the time of final hearing.
